The Simple Setup That Made Lance Breitstein Millions $$$
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- Опубликовано: 28 май 2024
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📰 TL Trading Academy: traderlion.com/YT-TLA In this this episode of the TraderLion podcast former Trillium trader Lance Breitstein reveals the trading breakthroughs he made during his trading career that allowed him to make millions of dollars. From systemizing your trading system to sharing his biggest mistakes, Lance does a great job guiding viewers through the process that every profitable trader must go through.
He also highlights one of his seven figure days in 2021 breaking down multiple trades he took, his entries, exits, and how he prepared during the morning to be able to capitalize on the immense opportunity the market presented him with.
Follow Lance on Twitter/X: / theonelanceb
Enjoy!
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Timestamps:
00:00 - In this Episode...
00:40 - Introducing Lance Breitstein
07:02 - The Trend is your Friend
09:44 - Defining a Trend
18:58 - Creating Trading Rules Based on Trends
24:17 - How Trends Start & End
28:28 - Dissecting Large Losses
31:35 - 7 Figure Day (WKHS, SI, TSLA)
38:49 - Preparing for Important Days
41:45 - Risk Management Techniques
45:10 - How Countertrend Moves Start
50:01 - When to Size Up
53:40 - Knowing Your Timeframes
56:40 - Selling Rules for Winners
58:40 - Using Public Sentiment in Trading
1:01:41 - Mentally Preparing for the Trade
1:08:25 - Patience for Proper Setups
1:11:50 - Creating a Daily Report Card
1:14:29 - Post Trade Analysis
1:16:36 - Best Time of Day to Trade
1:18:40 - Trading Around Breaking News
1:21:00 - Lance's Favorite Setups
1:24:32 - Identifying Emerging Themes
1:25:50 - Handling Halts
1:28:08 - Closing Thoughts from Lance
📘 Get your FREE 115-page Ultimate Trading Guide! - traderlion.com/YTC-UTG
👇 What you'll learn!
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Lesson 1: Build a sturdy trading foundation to overcome the biggest obstacles holding you back.
Lesson 2: Master 3 powerful trading setups to adapt and thrive in various market conditions.
Lesson 3: Efficiently screen and find top-performing stocks with strong momentum and high growth potential.
Lesson 4: Establish a streamlined risk management strategy using stop losses, position sizing, and portfolio heat analysis.
Lesson 5: Optimize selling decisions by identifying late-stage bases or key trend reversals by analyzing daily and weekly charts.
Lesson 6: Sharpen your trading analysis and decision-making by integrating cutting-edge analytical tools and techniques.
Lesson 7: How to establish and maintain routine weekly and daily trading practices to ensure consistent performance and continuous improvement.
This is Gold, Thankyou Richard for interviewing Lance and Thankyou Lance for the golden nuggets.
Thanks Brent!
I can’t believe this video is free. Unreal information that took him slot of time and experience. Good for him. He must have just made and can make so much money he passes it on for free. What a great guy and guy video. Download this and review it over and over and over. Hope you all keep a ton and your dreams come true! 🎉
Lance is very wise. Giving away knowledge it took him years to learn is understanding that Heaven rewards service like this with far more returns than just charging for it.
The more you give (and freely), the more Life gives you in return. This gentleman understands this Principle or Law of Life very well. Amen.
🕰 Timestamps 🕰
00:00 - In this Episode...
00:40 - Introducing Lance Breitstein
07:02 - The Trend is your Friend
09:44 - Defining a Trend
18:58 - Creating Trading Rules Based on Trends
24:17 - How Trends Start & End
28:28 - Dissecting Large Losses
31:35 - 7 Figure Day (WKHS, SI, TSLA)
38:49 - Preparing for Important Days
41:45 - Risk Management Techniques
45:10 - How Countertrend Moves Start
50:01 - When to Size Up
53:40 - Knowing Your Timeframes
56:40 - Selling Rules for Winners
58:40 - Using Public Sentiment in Trading
1:01:41 - Mentally Preparing for the Trade
1:08:25 - Patience for Proper Setups
1:11:50 - Creating a Daily Report Card
1:14:29 - Post Trade Analysis
1:16:36 - Best Time of Day to Trade
1:18:40 - Trading Around Breaking News
1:21:00 - Lance's Favorite Setups
1:24:32 - Identifying Emerging Themes
1:25:50 - Handling Halts
1:28:08 - Closing Thoughts from Lance
Lance Breitstein, one of the greatest traders, teachers and all round gentlemen of our current era. Thank you for what you do Lance.
thanks for watching
Thank you for listening and the kind words mean a lot to me 🙏
@@TheOneLanceBThat prediction on AI, you are a G. I love your videos, thanks for all of your contributions to the community.
Probably one of the best videos ever by TraderLion. I think Lance has so much expertise that he shares openly. Even if you don't trade the lower timeframes the way he does, time is fractal. These lessons persist across all timeframes. Great job Richard, TraderLion and definitely Lance! This is like getting basketball lessons from LeBron. You listen and take notes!
Glad you enjoyed it!
Thank you for the kind words 🙏
@@TraderLionhow do I get in touch with you?
Hands down one of THE best interviews!! Massively value packed, detailed information & succinct ,from a true expert. Thx. I’ll listen to this many times. ❤
Best teaching video I seen in the longest in RUclips.
Thanks to you both..
I wish I could personally sit with Lance for 15 minutes, his videos are so empowering
we will have him on again soon
Come join us next year at Traders4aCause in Vegas! Was here all weekend presenting :)
this guys advice makes the markets appear so much clearer
Thanks Lance and Richard. Lance, you really are giving back so much to the community. So much trading wisdom. People: listen, take notes, do the required word, and replay and replay what Lance is saying.
💯!!
Love Lance, such a bright personality, extremely patient. He's a gem to the trading community
Yes!!
🙏
this is the most useful technical guide video I have seen from Lance so far!
thank you!
Glad you enjoyed it!
Really awesome interview! Richard thanks a lot man, your channel and videos are simply outstanding work.
Thank you kindly Mike! Cheers
13:56 time is def. fractal on charts. 1:01:18 true for internal dialogue & its based on sentiment
Super presentation Lance - outstanding video - great content - clear explanations. Thanks to both of you.
Glad you enjoyed it!
Awesome content! I love watching the SMB videos and especially Lance explaining how to incorporate the methods that they use in so many ways, and very inspiring and informative. Looking forward to your next interview with Lance and other experts. Thank you Richard
Awesome, thank you!
❤
This is an awesome presentation guys, thanks for sharing, it's pure gold, Blessings to Richard and Lance, true Legend!
Thanks for watching! 🥂
I think he was clear with an interesting perspective. Anyone who doesn't get it may want to listen to this a few times
Your mind will work it out. I enjoyed this interview.
One of the best and beginner friendly videos on trading. Everybody can tell that the lecturer has extensive experience in trading. I learnt a lot from this video and I will apply them in my day trading trades.
Wow, thanks
This is probably one of the best interviews of a trader i've listened on youtube, thank you Richard for bringing Lance on the podcast so he can share some of he's valuable insights on the market!
Glad you enjoyed it!
One of your best videos. Clearly Lance is a pro. Such a wealth of knowledge, and so happy to share it.
Glad you enjoyed it!
Richard! You are a very good teacher. thank you fro bringing Lance Breitstein. Keep it going
My pleasure!
Great presentation, thank you so much!!
Glad it was helpful!
This was a wonderful interview. Intersects beautifully with Brian Shannon's teachings which I follow closely. Helps me know I'm on the right track. Thank you TraderLion and Lance!
Our pleasure!
Great presentation! Where can I find the interview with Chris he was referring to?
Great interview!!! Lance is great.
this was so good i had to watch it twice. thanks
Glad you found it valuable
love comments on position sizing,,,not so big where if its a loss it will demotivate you,,,,great tip and habit to adopt
Really like this video. Lance is great
Lance is a monster trader. Thanks for the video as always, Richard
Thanks for the great video! May I ask what lance means with no more need to use stops with trend? He uses mental stop losses instead hard stop losses with trend?
Hi crew. What is capitulation? And what is mean reversion? ty 4 vid
Exceptional! And the 3 Challenges -- fun, effective and actionable!! Much appreciated.
Glad you enjoyed it!
I have no words for this Master piece.
Same!
Brilliant video. Lance is a godamn legend
He’s great
This was a great presentation and honestly even better questions. Thanks!
Glad you enjoyed it!
So refreshing to see a successful trader also highlight losses because as he said no one is perfect and everyone can always improve. Awesome mindset and video. Thanks so much 🙏
Well said!
Do you put a limit order above that previous bar high or do you wait for it to break and then put in your order or do you wait for the bar to close? Thanks
I've always had trouble with V bottoms and this video gave me some direction to help me. Thanks for the interview with Lance. It's the second I've seen with him recently and I feel like I get something out of what he has to say.
Thanks!
Very informative video I ever watched on trading. Appreciated!!
Glad it was helpful!
Was kidding with that last comment. Thank you Lance and Richard. A+ content. Will help me level up. Will watch several times.
cheers, thanks for watchiing
Very different trading style but a lot to learn here
Thanks for watching
Lance 1st came on to my radar from this interview. Loved it!
Excelentengracias mi brother por tu valiosa informacion como me sirvio la verdad good bless
Gems thank you so much, Richard and Lance 🎉
Thanks for watching!
This is absolute GOLD!!! Thank you so mush Lance for the price-less advice and thanks you so much Richard/Trader Lion for the wonderful video.
Our pleasure!
As an active trader, it's worth pointing out that knowing the trend and knowing the timeframe of the trend are equally important. You can be trading on shorter timeframes 'counter-trend' to the primary trend on a larger timeframe, because the shorter term trend is different across the timeframes; As Lance mentioned, the trend can be strengthened by seeking confluences of matching trends on different timeframes where they are all in the same direction and this is not to be underestimated. I'm pointing this out because it's easy to start trading counter-trend on a shorter timeframe, then attempting to let the loss run to come good (negative cognitive bias) when in fact, you are now following the longer term trend which was never in your favour. Making these decisions on the fly without some kind of system or automation for each aspect of the trade makes things very complicated and prone to failure.
Great motivational start. Seeing those trophies 🏆
You got this!
I first listened to Lance the other day on The Humbled Trader podcast and found his insight very beneficial. This was a great video for all traders with a decent grasp of the market
Glad it was helpful!
@@TraderLion Absolutely, I am always seeking insight and ideas from great traders. I’ve been in this business since 1997 as a teenager, working in the Lean Hog & Pork Belly pit at the CME and switching from commodities to stocks, trading on my own, full time since 2018 & will always try to sharpen my skills. Thanks again, Love the channel
Awesome info
I've been following smb for a while now. Market move so fast in recent years. Very informative. Ima archive this video.
Awesome!
can those concepts apply to swing trading too?
Thx a Ton for the Post
You bet
Lance is incredible!! I have learned so much thanks to him!! Thank you for bringing him. I am truly amazed by the trade on WKHS, and I would like to ask him about the process of trading this breaking news. It seems like he takes the trade right from the beginning, in the first or second candle. How does he filter through so many news that come in for all the stocks in the market at every moment, read and interpret how bad it could be, and make the decision to take the trade so quickly? Were you already monitoring this stock for some reason (perhaps the significant drop it had that morning), and were you only paying attention to the news about this particular stock? Do you use any type of software that filters and classifies the type of news you want to find? Or is it purely a skill developed over time? Thank you again, Richard, for bringing Lance to this incredible interview!
Thanks Richard and Lance. As always, great content and discussion Richard. Great work too Lance. I havent watched your clips lately but always enjoy them. Great attitude and good content always. Thanks gents and have a nice weekend.
Our pleasure!
Not in line with my trading style but took some good points from this interview !
most definitely
Absolute gold. Many thanks.
Glad it helped!
Amazing content ! Loved the advanced trader idea of predicitibility in capitulation price action : if a stock has demonstrated a smooth uptrend, then when the trend reverses, the initial phases of the downtrend most likely to be smooth and orderly.
Glad you liked it!
lol classix new guy thinking everything is like that
Wow
BRILLIANTLY EXPLAINED THANK LANCE
He’s amazing!
Thank you for sharing and presenting. I want to do some graphic design analysis and refinement of this slide deck.
Glad it was helpful!
Outstanding interview with an outstanding guest.
Lance was great 👍
TraderLionKings
👑
Great presentation from Lance!
Thanks for watching
Great content , can I put this strategy on future trading
Awesome 👏 🙏. Lance is a legend
As much as I want to learn from people like this, it’s so hard not to be jealous of the success at such a young age. At 41, I feel like it’s too late to learn and maybe I should just stick to the 9 to 5 that I hate.
It’s never too late!!
In reality, a lot of it does come down to luck and timing. The covid market minted many millionaires simply because it was a time when everything was pumping and breaking out to extreme highs. That's why more people than ever want to be traders, but you have to keep in mind that a lot of newer millionaire traders really did just get lucky. Not talking about longtime veterans like David Ryan etc
Thanks Richard, Lance is a beast
He is!
Mostly when I enter a buy trade... I feel if I keep a small stop loss, it will be hit in volatility (I am talking abt index), so I kind of loose confidence and hence take small but give large, since by the time I realise I am wrong it is too late.
Any solution for it ? (Apart from entering in the form of spreads)
Thank both of you great information Lance is a Legend Trader, God bless you guys
Thanks for watching!
Epic advice….great practical work👍🏼
Glad you liked it!
This was amazing 🎉
Thanks for taking the time guys
Our pleasure!
Given reduced inflation signals and as the Federal Reserve has halted rate hikes, what are the best additions for a $500K portfolio to enhance the overall performance of my portfolio next year
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire
True, some folks employ hedging strategies or devote a portion of their portfolio to defensive assets that perform well during market downturns and such pointers are provided by engaging the services of market experts just like i did in 2019, amid rona-outbreak, and as of today, i can boost of a 45% enhancement on my $1m portfolio after acquiring assets recommended by my advisor.
Please how do I find and contact this financial counselor ?
I get guidance from Nicole Desiree Simon. Most likely, the internet should have her basic info..>
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Wow just happened on this video one of the best I have seen from Lance on his style. I have been leaning toward this style myself. I see so many traders buying toppy stocks. When you think about it his style is actually more conservative as long as you wait for confirmation.
Awesome! Thank you!
What does the word capitulate means in trading, as Lance uses it?
Very good video. You will become big
Very grateful for all the knowledge that was given in this video, thanks!
Glad it was helpful!
Why are you not using your normally excellent microphone Richard @traderlion?
Thanks Lance!! This content Gold!
Glad you enjoy it!
Does he use Stocks or Options? And what kind of position size is he using to get 6-7 figure days?
Great job. Lots of good info presented from an expert trader.
Glad it was helpful!
full of gold nuggets and a couple (and that's all one needs) big gold mountains too, many thanks for sharing your insights and experience.
I'm glad you found the video valuable! Thank you for your kind words.
He was right about AI being the theme.
Yes!
Loved this, excellent interview, Lance is a BeAST!
He sure is
For any doubters of Lance all I can say is that there are no wanna-be guru's that go into that depth of analysis on their trades and setups and systems. He clearly knows what he's doing. I actually took a course from SMB several years ago. They are a legit prop firm. It helped me big time. That tsla countertrend trade at 46:29.
1)There was a huge gap to fill and realistically if it even just did a 25% fill.
2)Yeah the trend could have kept going down for tsla but the overall market sentiment at that time was still mostly bullish
3)when you get a stock of tsla's visibility and fan-boy status your far more likely to see dip buyers.
4)Also hitting a previous support zone.
It isn't just one of those but the confluence of all those things together makes a better case.
Great video. But I have one question; which no one seems to ask. What is he actually trading? Just Stocks or options?
Hi Lance. about your MU analysis you said it’s making lower high. I think you meant to say higher lows.
Is it possible to update Trading Guide link ?
Here is the link:traderlion.com/YT-UTG
chart at 22:55 show perfect example of Wyckoff method
does anybody have that Ultimate Trading Guide? the link his inactive
Here it is: traderlion.com/YT-UTG
Very good information. I wish he had of spoken about VWAP a bit more and only taking the trades with the trend and if he uses VWAP.
Check out our interview with Brian Shannon
great interview. thanks for sharing
Glad you enjoyed it!
your mean revision trades are very similar to ADH's style trading and entry system, and the whole V pattern trading, did you get some inspiration from him or any of his students?
Richard M thanks soo much for bringing so much value with all your hard work all this fantastic interviews !! ❤🔥🔥🔥🙏🏽🌟
Glad you like them!
Lance is such a nice guy. 😎 good vibes
Definitely!
The trend is the friend sure no big news here, but some big problems prevent traders from winning. 1) it's easy to spot trends backward, but you never know if the new move will become a new trend or if is it the start of the reversal. 2) Forex markets are so choppy and trend-less nowadays that having a good trend is so rare. Even though stock trends are rare, especially clear stock trends like AVGO and nVidia are very rare (less than 1%), all talk about trends as lifesavers. Life is not that easy. Btw this fine gentleman said don't go against the trend, and that's exactly what he did with SOS at 34:15 and especially SI at 35:08, this was very risky, almost like catching a falling knife. Because strong downward momentum was present and probability was on the downside, no chance to tell whether would be the reversal or the false upwards breakout
Thank you Richard
Enjoy!
Do you trade options using this strategy or just trade shares?
Quite interesting that so many are pushing smart money concepts these days yet so far only seeing moving averages and what looked like bollinger bands....
not even a day trader, I'll watch this again.